Norway

Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.
Altalto (Immingham) Limited receives backing from the UK government to integrate NEXTCHEM technologies into its sustainable aviation fuel project derived from municipal waste.

OPEC+ approves 137,000 barrels/day increase starting in October

OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
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The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.
Ayatollah Ali Khamenei calls for modernising the oil industry and expanding export markets as Tehran faces the possible reactivation of 2015 nuclear deal sanctions.

IAEA urges Iran to resume nuclear inspections as time runs out

The International Atomic Energy Agency warns that little time remains to reach an agreement with Iran on fully resuming inspections, as European sanctions could be reimposed within 30 days.
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Norwegian company BlueNord has revised downward its production forecasts for the Tyra gas field for the third quarter, following unplanned outages and more impactful maintenance than anticipated.
Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.

Greek shipowners cut Russian crude links under new compliance rules

Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.
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The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.
A key station on the Stalnoy Kon pipeline, essential for transporting petroleum products between Belarus and Russia, was targeted in a drone strike carried out by Ukrainian forces in Bryansk Oblast.

NatPower Marine and Wah Kwong launch electric port network across 30 Asian ports

NatPower Marine and Wah Kwong create a joint venture to deploy a maritime electric charging network in over 30 Asian ports by 2030, without requiring initial public investment.
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The success of SGN’s test on a gas pipeline converted to hydrogen confirms Terra Firma Energy’s technological choices, with sites already equipped to accommodate this type of energy investment.
The European Union’s new import standard forces the United Kingdom to make major adjustments to its oil and gas exports, impacting competitiveness and trade flows between the two markets.

UK prepares new oil tax regime to revive UKCS competitiveness

The United Kingdom is set to replace the Energy Profits Levy with a new fiscal mechanism, caught between fairness and simplicity, as the British Continental Shelf continues to decline.
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Octopus Energy strengthens its presence in Spain with three new energy projects totalling 600 MW, powering 2.3 million households and accelerating the expansion of its European renewables portfolio.
An American-built electric aircraft completed a test flight between Stavanger and Bergen, marking a key step in integrating zero-emission air cargo operations into Norwegian airspace.

Orsted sues Trump administration over halt of Revolution Wind project

Orsted and two U.S. states have taken federal legal action to contest the abrupt halt of the Revolution Wind project, a $5 billion offshore venture now at risk of prolonged suspension.
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Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.
ScottishPower pauses its renewable hydrogen projects in the United Kingdom, despite receiving public subsidies, citing a lack of commercial viability under the HAR1 programme.
Austrian energy group illwerke vkw reaches a decisive milestone for building the country's largest pumped-storage plant, with construction starting in 2029.
Copenhagen Infrastructure Partners has signed an agreement to sell 50% of the Coalburn 1 energy storage project to AXA IM Alts, marking a key step in the development of energy infrastructure in the United Kingdom.

Norway: company created to develop a 1500 MWe SMR plant

Trondheimsleia Kjernekraft AS was founded to lead a nuclear plant project based on several small modular reactors in the Trøndelag region, targeting up to 1500 MWe of installed capacity.
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EnBW’s He Dreiht project reaches a major milestone with the installation of the first 15 MW Vestas turbine, marking progress in the construction of the 960 MW wind farm.
The United States extends until June 27 the suspension of sanctions targeting NIS, the Serbian energy company controlled by Gazprom, providing strategic relief to gas-dependent Serbia.

Just Stop Oil ends direct actions after three years of mobilisation in London

The British environmental movement Just Stop Oil organised its final march in London on Saturday, announcing the end of its spectacular actions against new oil and gas projects in the United Kingdom.
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Russia and Iran anticipate a sharp acceleration in their trade relations with the entry into force of their free trade agreement in May, covering oil, gas and civil nuclear cooperation.
The global oil industry anticipates a significant decline in exploration and production investments from 2025, amid persistent oversupply, exacerbated by increased U.S. tariffs and recent decisions by OPEC+.

The UK and Eni finalize financing for CO2 storage project in the Irish Sea

The UK government and Italian energy company Eni have announced the financial closing of a project aimed at burying millions of tonnes of CO2 in the Irish Sea, an ambitious initiative to reduce industrial emissions.
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The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.

Summit in London: Tensions over the role of renewable energy in global energy security

In London, global officials gather to discuss energy security amid rising geopolitical tensions. Disagreements persist on the role of renewable energy in meeting global demand.
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Norway's sovereign wealth fund lost 415 billion Norwegian kroner (€35 billion) in Q1 2025, primarily due to a decline in tech stocks and currency fluctuations.
Carbon Capture, Utilization, and Storage (CCU) technologies are gaining traction in hard-to-decarbonize industrial sectors, offering innovative and economically viable solutions. The Oxford Institute for Energy Studies report explores these new pathways.

OPEC calls on IEA to prioritize energy security over net zero ideology

OPEC Secretary General Haitham Al Ghais emphasizes the need to reconcile energy security with emission reduction goals, in light of the International Energy Agency's (IEA) approach.
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Baker Hughes posted strong quarterly results, driven by a 9% increase in orders for its Industrial & Energy Technology division, despite a 50% drop in cash flow during the same period.
Donald Trump's aggressive trade policies and regulatory uncertainty in the United States are slowing investments in wind, solar, and energy storage, pushing the sector into a period of caution and market volatility.

Mainstream sells 675 MW of wind and solar projects to Celsia in Colombia

Mainstream Renewable Power sold its entire Colombian portfolio to Celsia, marking its exit from the country to focus operations on three strategic markets.
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According to the latest data from S&P Global Commodity Insights, voluntary carbon markets experienced a significant contraction, with renewable credit retirements dropping by 34% in March and issuances decreasing by half.
European marine energy reaches a major milestone with a 165 MW pipeline planned over five years, supported by €60 million in private investments, reflecting growing financial market interest in this expanding sector.